capital goods definition
capital goods means goods, the value of which is capitalised in the books of account of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business;
capital goods means any plant, machinery, equipment or accessories required for manufacture or production, either directly or indirectly, of goods or for rendering services, including those required for replacement, modernisation, technological up- gradation or expansion. It includes packaging machinery and equipment, refrigeration equipment, power generating sets, machine tools, equipment and instruments for testing, research and development, quality and pollution control.
capital goods means any asset, or any component of any asset, which is of a character subject to a deduction of expenditures incurred as provided in sections l 7(1)(e), l 7(1)(f) and 18(1)(a) (to the extent that it is in lieu of sections 17(1)(e) and 17(1)(f)) of the Income Tax Act, 1981 (Act No. 24 of 1981), and which is used in the course or furtherance of a taxable activity;
Examples of capital goods in a sentence
The Trans-Pacific Partnership Trade Agreement: Report of the Industry Trade Advisory Committee on Automotive Equipment and Capital Goods, December 2, 2015.
More Definitions of capital goods
capital goods means any plant, machinery, equipment or accessories required for manufacture or production, either directly or indirectly, of goods or for rendering services, including those required for replacement, modernisation, technological upgradation or expansion. It also includes packaging machinery and equipment, refractories for initial lining, refrigeration equipment, power generating sets, machine tools, catalysts for initial charge, equipment and instruments for testing, research and development, quality and pollution control. Capital goods may be for use in manufacturing, mining, agriculture, aquaculture, animal husbandry, floriculture, horticulture, pisciculture, poultry, sericulture and viticulture as well as for use in services sector.
capital goods means an asset, or a component of an asset, which is of a character subject to an allowance for depreciation or comparable deduction for income tax purposes, and which is used in the course or furtherance of a taxable activity;
capital goods means any asset, or any component of any asset, which is of a character subject to a deduction of expenditures incurred as provided in terms of paragraphs (c) and (f) of subsection
capital goods means any plant, machinery, equipment and accessories required for -
capital goods means goods
capital goods means plant, machinery and equipment used in trade or manufacturing of goods;
capital goods means any equipment or machine that may be used to produce products or to provide services and includes accessories;